The National tribune., 1887-08-18

INet 80. s3l. DC
The immensely Of this National obligation
alarmed all thinking, patriotic men. It's
payment seemed a problem only second in
importance TO the crushing Of the military
power Of the rebellion.
The soldiers of the country felt as deep a
concern in regard 10 this as anyone. They
felt and exprest themselves that il was rs
much part Of their duty TO help reduce
this mountsin-load Of debt as it was 10 fol-
low Lee and Johnston's armies wherever
they went, and strike at them until they
were driven TO surrender.
They gladly assumed every burden which
was laid upon them to provide means for
paying interest and principal. Upon their
discharge they at once entered into active
business of some kind, and became a very
large proportion Of the wealth-producers Of
the country. A large share of the fruits of
the labor Of their hands and brains was
taken every year by the taxgatherer 10 pay
the high interest on the bonds and to pay
back in gold money that had been lent in
deprecated paper. The interest account
alone in the few years succeeding the war
averaged the enormous rate of $500 per
head per annum for every man, woman and
child in the country. This was about S22 for
every family. As the people Of the South
from having so large a proportion of
negroes and poor whites-paid relatively
little of this, the average payment of a
family in the North was probably in excess
of $50 year-an imposition without prece-
dent in our history. Thus the soldier of the
Union not only had TO give several years of
his life TO putting down the rebellion in the
field, but after he was discharged he had to
come home and produce large portion of
the money to defray the expenses of car
rying on the war. War taxation placed its
bony grip on everything that he bought or
sold or used. 1t began in the morning
with the matches that he used to light his
fire with, and it followed him through
every step he took during the day, to
the spoonful of medicine his wife admin
istered 10 their sick babe at midnight
There was scarcely an act of his life
that was not taxed to pay principal
and interest TO the bondholders He
had 10 pay tax on the railroad ticket he
bought at the station, on the notes he gave
for his house or farm, on the deeds he re-
ceived, on the receipts he gave-and SO on
throughout all the operations of life. He
bore these burdens cheerfully, because be
thought it his patriotic duty just as he en-
dured the hardships aud dangers of service
in the field. He fought to preserve the
country, and transmit it prosperous and
united to posterity. He would pay the debts,
too, that pOsterity might receive il unen-
numbered The result of all this patient
bearing of burdens is that the debt was re-
duced at rate which has averaged S120.47
minute for every minute of the past %
years. This was S725s for each hour,
S174,ls6 for each day, S5,225,5s1 for each
month, OF SCI, 706,975 for each year. Alto
gether we have repaid in principal to the men
who lent the Nation in her hour of need
2,3sl, 1880 295 deprecated paper dollars, the
enormous sum of 81 1913, 55S, 45O-one bill
lion, three hundred and seventy
nine million, five hundred and
fifty-three thousand, four hundred
and fifty dollars i'm gold.
In addition we have paid interest aggre-
eating, Aug. j, 1920, $50, 429, making
the total payment 10 bOndholders since the
war of s., 500, 2s3 $40, making pay
ment Of about $4,000 for every man, woman
and child in the loyal States at the close of
the war.
II must be kept in mind chat these bond
holders would not have received dollar of
all this enormous wealth had it not been for
the self-sacrilce, yalor and fortitude of the
men who left home, friends and their voca-
tions TO Lay their lives and fortunes on the
altar Of theirconntry. Ifthese men had not
endured everything for four long years, and
died by hundreds Of thousands, the bonds
would not have been worth the paper they
were printed on, and would be used now as
the Confederate bonds are TO paper
walls. Nay, morel If these veterans had
not, on their return home, manifested the
same patriotic zeal 10 have every dollar of
the war Indebtedness honorably paid that
they did TO have every rebel in arms forced
10 surrender, these creditors would have
been no better Off than the men who lent
money TO the so-called Confederate Govern
ment
Yet the money-lenders forget these things,
and ii is they and their organs in the great
mcney-centers which fight pensions most
desperately.
Mr.. LORIHG is going through Illinois
OF vino aid and copn fnv4 an sl,a o,,a,.,.. r., =